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what is keynesian model
Explain how inflation unemployment trade-off is not feasible under adaptive expectation.MEC002
difference between gdp at market price and nnp at factor cost
Axiom of completeness: Consumer's choice is complete. Implication: Since consumer is rational, she must have a unique preference relation. That means the consumer choice is ei
Aggregate supply Remember that labor demand provides us profit-maximizing quantity of L for a given real wage. If W/P is given (as it's in cross model), we can find profit-maxi
Overnight interest rate of Central banks When the central bank buys government securities, it purchases from many individuals, companies and institutions. Deposits and reserves
Lucas’ point of view, what are the limitations of the Keynesian model? What improvements does he suggest?
Money is generally considered to have three economic functions: A medium of exchange. This is its most significant role. Without money we would live in a barter economy wher
mang ki aye loach
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